Global Retro-Reflective Materials Market is accounted for $4.9 billion in 2017 and is expected to reach $25.5 billion by 2026 growing at a CAGR of 19.0% during the forecast period. Growing construction projects in developing economies and rising demand for retro-reflective materials are some key factors propelling the market growth. However, low awareness regarding safety products in emerging economies and low retro-reflectivity offered by glass beads are hindering the market growth.
Retro-Reflective materials are now widely used as road markings and signs to enhance night-time visibility. It is manufactured from different optical quality glass beads measuring three fourth the size of human hair which are packed together densely and coated with aluminum. This process transforms each glass bead into a convex mirror and reflects the light back, precisely towards the source of the light. This helps illuminate an object in the darkness.
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North America held the largest market share during the forecast period owing to increase demand for construction spending along with safety construction products and major sales of vehicles in automotive and transportation industry.
Some of the key players in Retro-Reflective Materials market are Dominic Optical Inc., Orafol Europe Gmb, Paiho Group, Reflomax, Aura Optical Systems, LP, 3M, Avery Dennison Corporation, Coats Group Plc, JRC Reflex SAS, Changzhou Hua R Sheng Reflective Material Co., Ltd., Magnacolours, American & Efird, Nippon Carbide Industries Co., Inc., Halo Coatings and Dongguan Yufon Textile Materials Co. Ltd.
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-Ceramic Beads Technology
-Glass Beads Technology
-Micro prismatic Technology
-Paints, Inks & Coatings
-Films, Sheets & Tapes
-Conspicuity, Fleet & Vehicle Registration
-Electronics & Semi conductors
-Traffic Control & Work Zone
End Users Covered:
-Oil & Gas Industry
-Other End users
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